Accountants should experience 16-percent employment growth from 2010 to 2020, reports the U.S. Bureau of Labor Statistics. This is faster than the projected job growth of 14 percent for all U.S. occupations. While the job market for accounting professionals is good, competition for available positions is expected to be strong. Master’s degrees or professional certifications can often give you the edge over the competition — not to mention help increase your salary.

Salary

The Bureau of Labor Statistics reports that accountants earned $70,130 a year in 2011. The median wage, which accounts for half of all accountants, is closer to $62,850 a year. Both figures factor in all accountants, regardless of position or experience. Staff accounts often have different pay scales than those at accounting firms.

Experience

At a small company, a staff accountant with less than one year of experience can expect to earn $35,250 to $42,750 a year, according to Robert Half Finance & Accounting, a national financial recruitment service. With one to three years of experience, staff accountants average $39,750 to $52,750 a year, while those with three or more years of experience earn $49,500 to $63,750 a year.

Company Size

On top of experience, company size affects salaries. At midsize companies, staff accountants earn $37,500 to $47,000 with one year of experience, $43,250 to $58,000 with one to three years of experience and $54,250 to $71,250 with more than three years of experience. At large companies, accountants earn $39,750 to $49,500 with one year of experience, $47,250 to $62,000 with one to three years of experience and $60,250 to $79,250 with more than three years of experience.

Education

As with almost any career, educational achievements can improve salaries for staff accountants. On average, accountants earn 5 percent to 10 percent more a year with master’s degrees or professional certifications, such as Certified Public Accountant (CPA), Certified Management Accountant or Accredited in Business Valuation. At a small company, a staff accountant fresh out of college can earn $37,013 to $47,025 when certified as a CPA.

Location

Another factor influencing salary is location – sometimes even more so than both experience and education. In Los Angeles, for example, staff accountants earn 24 percent more than the national average. Those working in Boulder, Colo., also fare better than most, earning 13 percent more than average. The same, however, can’t be said for staff accountants in Duluth, Minn., where salaries are almost 21 percent less than average.

About the Author

Dana Severson has been copywriting since mid-2005, providing marketing collateral for businesses in the Midwest. Prior to this, Severson worked in marketing as a manager of business development, developing targeted marketing campaigns for Big G, Betty Crocker and Pillsbury, among others. His work can be seen on Beneath the Brand, Digital Pivot and On Marketing.

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